30th Sep 2021 15:42
TBC Bank Group PLC - Tbilisi, Georgia-based bank - Official lenders International Finance Corp and European Bank for Reconstruction & Development each will invest USD9.4 million to each take a 20% stake in TBC's Uzbekistan subsidiary. TBC retains 60% ownership of TBC UZ. IFC and EBRD have put options to sell their shares back to TBC after the sixth anniversary of the deal, while TBC has a call option to buy back the shares after the 10th anniversary. IFC and EBRD also agree to make additional capital injections worth up to USD34.3 million during the period up to 2024. TBC UZ was launched in October of last year. It is a digital bank offering retail banking services via a mobile app.
Separately, TBC says George Tkhelidze, deputy chief executive officer of JSC TBC Bank, sells 12,946 shares at average GBP13.73, worth GBP177,711, on Wednesday.
Current stock price: 1,432.00 pence
Year-to-date change: up 15%
By Tom Waite; [email protected]
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